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iceland-central-bank-110718_22may19.jpg Iceland's central bank slashed its key interest rate and the economic growth forecast for this year on Wednesday, citing weaker tourism business and a fall in marine product exports. The Monetary Policy Committee, or MPC, decided to lower the rate on seven-day term deposits by 0.5 percentage points to 4 percent, the Central Bank of Iceland or Sedlabanki said.

Italy is forecast to expand less than previously estimated this year, according to the latest Economic Outlook published by the statistical office Istat. Gross domestic product is expected to grow 0.3 percent in 2019, which was revised down sharply from 1.3 percent projected in November. The estimate...

ukinflation-may22.jpg UK consumer price inflation exceeded the central bank's target in April for the first time since December, driven by higher utility costs and air fares. Meanwhile, core inflation held steady for a second month in a row, further damping hopes of an interest rate hike this year.

Ireland's output prices declined for the second straight month, and at a slower pace in April, figures from the Central Statistics Office showed on Wednesday. The manufacturing industries output price index, excluding VAT, fell 5.9 percent year-on-year in April, following a 6.8 percent decrease in...

UK's public sector net borrowing in April was the lowest for the month since 2007, preliminary data from the Office for National Statistics showed on Wednesday. Public sector net borrowing, or PSNB, excluding public sector banks was GBP 5.8 billion, which was 0.03 billion less than a year ago. Net...

UK consumer price inflation accelerated in April, while output price inflation eased slightly, figures from the Office for National Statistics revealed Wednesday. Consumer price inflation rose to 2.1 percent in April from 1.9 percent in March. Nonetheless, this was slightly slower than the forecast...

Poland's industrial production grew at a faster-than-expected pace in April, figures from Statistics Poland showed on Wednesday. Industrial production rose 9.2 percent year-on-year in April, exceeding economists' forecast for an increase of 9.0 percent. Among the main components, water supply surge...

Sweden's central bank said structural reforms are needed in the housing market to curb households' high indebtedness. In the Financial Stability Report, released Wednesday, Riksbank said high household indebtedness poses the greatest risk to the Swedish economy. The development of household indebtedness...

preview-may22.jpg Consumer and producer prices and public sector finance reports from the UK are due on Wednesday, headlining a light day for the European economic news. At 3.00 am ET, European Central Bank President Mario Draghi is set to speak at an event organized by the ECB in Frankfurt, Germany.

Eurozone consumer confidence rose more-than-expected in May to its highest level in seven months, after weakening in the previous month, flash data from the European Commission showed on Tuesday. The flash consumer confidence index climbed to -6.5 from -7.3 in April, which was revised from -7.9. Economists...

Recent production slowdown in the German economy was broad-based, extending beyond the automobile and chemical industries, and a sustained pick-up is only likely if demand recovers, Capital Economics economists said. "The weakness of other sectors accounts for more of the slowdown in production since...

ocde-may21.jpg The Organization for Economic Co-operation and Development lowered the 2019 global growth outlook as escalating trade disputes hurt manufacturing and investment decisions. In its latest Economic Outlook, published Tuesday, the Paris-based think tank forecast 3.2 percent growth for 2019 versus 3.3 percent estimated in March. The global growth outlook for 2020 was retained at 3.4 percent.

Slovenia output prices rose in April, figures from the Statistical Office of the Republic of Slovenia showed on Tuesday. Output price increased 1.2 percent year-on-year in April. Among the main industrial groups, the price index for the energy sector rose 15.3 percent annually, while that of...

UK manufacturing orders hit its lowest level since October 2016, the Industrial Trends survey from the Confederation of British Industry showed Tuesday. The order book balance dropped to -10 percent from -5 percent in April. At the same time, the export order books balance slid to -16 percent, the...

The Organization for Economic Co-operation and Development downgraded the global growth outlook for 2019 as trade disputes hurt manufacturing and investment decisions. In its latest Economic Outlook, published Tuesday, the agency forecast 3.2 percent growth for 2019 instead of 3.3 percent estimated...

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